By Key Points
- Crypto market cap surpasses $4 trillion in 2025.
- ETFs pull in $17B net inflows in 60 days.
- Stablecoin supply grows to nearly $282B.
- Institutions and policies align for a massive rally.
Analyst Miles Deutscher is calling the current setup “the most bullish set of tailwinds in crypto history.” His confidence stems from several converging factors that could drive Crypto Bull Run 2025 to unprecedented heights.
The stage is set for crypto’s biggest bull run ever.
The industry has never experienced such a bullish set of tailwinds/rate of change.
🧵: Here are the 10 catalysts triggering the next explosive price move.👇
— Miles Deutscher (@milesdeutscher) August 11, 2025
In just July 2025, US-listed crypto ETFs recorded inflows of $12.8 billion. Over the past 60 days, spot Bitcoin and Ethereum ETFs have absorbed $17 billion in net inflows.
This institutional buying spree mirrors earlier moves, such as when Metaplanet expanded its Bitcoin reserves to over 18,000 BTC, signaling growing corporate conviction in digital assets.
US Crypto ETFs took in $12.8b in July, the best month ever, a $600m/day pace, about double avg. As a group that’s more than any single ETF did, incl the Mighty VOO. Further, every ETF in category took in cash (ex the converted Trusts) w/ Bitcoin and Ether making equal… pic.twitter.com/9bKvu6QysD
— Eric Balchunas (@EricBalchunas) August 1, 2025
Pro-crypto policies are also reshaping the landscape. The GENIUS Act, a new stablecoin regulation, along with policy changes allowing 401(k) retirement plans to invest in alternative assets, is opening the door for massive amounts of traditional capital to enter crypto markets for the first time.
ETF inflows. Source: Miles – Techroken
These measures reduce uncertainty for investors, making crypto a more acceptable and secure choice for long-term portfolios.
1. Spot $BTC & $ETH ETFs have pulled in $17B net over the last 60 days (>$11B in July alone).
This is bidding on an unprecedented scale. pic.twitter.com/equvR9T8Ki
— Miles Deutscher (@milesdeutscher) August 11, 2025
Stablecoin Growth and Institutional Entry
Stablecoin market capitalization now ranges from $270 billion to $282 billion, reflecting a rapidly expanding on-chain money supply. This liquidity
Stablecoin market cap. Source: Tobias on X – Techtoken
This builds on a wider trend of institutional ETF plays, though not all succeed, like the BlackRock XRP ETF application that faced rejection.
Political endorsement from President Trump and his family is helping crypto gain mainstream legitimacy. Public support at the highest levels of government could finally encourage conservative and risk-averse investors to explore digital assets.
Great new Stablecoin Dashboard by the chads from @asxn_r https://t.co/oEjRTk8h5F
Stablecoins: Up Only
US Federal Debt: Up Only
Biggest Stable TVL: @maplefinance / @syrupfi pic.twitter.com/TYeUzcGoUc— Tobias Reisner (@reisnertobias) August 9, 2025
Altcoin Rotation and Market Cycle Positioning
Beyond Bitcoin and Ethereum, the conditions are forming for an altcoin rotation, a phase where capital flows from large-cap coins into smaller, high-growth projects.
According to Deutscher, Bitcoin Dominance is at its weakest since 2024, which historically signals an upcoming surge in altcoin performance.
Ethereum has reclaimed the $4,000 level, a milestone not seen in years, suggesting strong momentum toward its 2021 all-time high.
ETH has reclaimed $4,000. Source: Miles on X – Techtoken
This comes as Ethereum’s ecosystem continues to make headlines, from Vitalik Buterin’s disclosed ETH holdings to controversies like the detention of an Ethereum developer in Turkey.
Meanwhile, Bitcoin remains steady despite waves of market FUD, hinting at seller exhaustion and robust underlying demand.
As liquidity becomes concentrated in major centralized exchanges and high-volume coins, smaller altcoins are poised to benefit from renewed speculative interest later in the cycle.
7. ETH has reclaimed $4,000, a multi-year level, which gives it real momentum to push back toward (and beyond) its 2021 ATH. pic.twitter.com/V1LByT6Bom
— Miles Deutscher (@milesdeutscher) August 11, 2025
Global Macro Trends Supporting Crypto Bull Run 2025
Beyond internal market factors, global macroeconomic conditions are adding fuel to the fire. Falling interest rates in major economies have increased the appeal of risk assets, while inflation concerns are prompting investors to seek hedges outside traditional currencies.
Global adoption metrics are also climbing. Countries in Asia, Latin America, and Africa are experiencing record wallet downloads and trading activity. At the same time, NFT culture remains vibrant, as seen in unique events like Beeple’s NFT stunt that sent Nakamigos prices soaring by 25%.
10. Liquidity is more concentrated on majors/CEX, making the BTC/ETH trend cleaner (important for narrative alignment at this stage in cycle – healthier conditions for an alt rotation to happen later).
This is in contrast to late 2024, where liquidity is concentrated in the…
— Miles Deutscher (@milesdeutscher) August 11, 2025
Institutional adoption is spreading outside the US, with European and Middle Eastern funds increasing allocations to crypto-related ETFs and trusts.
The combination of easy monetary policy, technological adoption, and favorable regulation creates a rare alignment, one that could help propel Crypto Bull Run 2025 into uncharted territory.
As Deutscher sums it up, “The market has never had this many bullish factors line up at once.” The coming months may prove whether these signals translate into the most explosive rally the industry has ever witnessed.
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